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are we possibly headed into further stagnation? >> well, you know, the political strategist side of things i've never had to look so much at politics to figure out where the economy was going. i tell you, it's like watching the keystone cops. it's gotten ridiculous. going forward we do have momentum carrying us into 2012. that's the good news. we hope we don't lose it because of political ineptitude. that's what would kill it. we have a lot of icebergs ahead. we hope politicians are better at navigating turbulent water than the captain of the titanic. that said, where are the positiv...

going to happen in 2012. tell me where you sit right now is 2012 going to be a better year economically than 2011? is there going to be economic growth? are we possibly headed into further stagnation? >> well, you know, the political strategist side of things i've never had to look so much at politics to figure out where the economy was going. i tell you, it's like watching the keystone cops. it's ridiculous. going forward we do have momentum carrying us into 2012. we hope we don't lose it because of political ineptitude. that's what would kill it. we have a lot of icebergs ahead. we...

Because it's just going to be a fact of life. we have so much access to information. we have computer trading. it's just too easy to shift the market, even on a psychological level. >> and based on this "time" "money" magazine poll, 74% of americans believe that social security and medicare, not going to be there when they retire. 64% say, i'd be willing to take a pay cut if i could keep my current job. when you see numbers like this, what is your reaction? >> well, here's the thing. only how many years ago, 2008, 64% of americans said that it's harder now to have the american dream. that numb...

know now is are we getting into another recession now? >> no. i submitted my forecast to the various polls last week and said no, the economy would grow faster in the second half, things will get better. are there perils? of course. >> those with money who don't need credit or who have the ability to get credit can really do well in this economy and those without jobs at the bottom, with tough credit, are excused for thinking that things are bad. >> absolutely. if you don't have a job, it is still a depression outside. or still a recession. we're not growing fast enough to help those...

up right now, and that's a good sign considering we're more than halfway through the trading day. you are seeing stocks rally on good economic news of the jobless claims numbers fell last week and we got strong corporate earnings from a bellwether company, cisco system, and you are seeing wall street focus on the positive today and we are seeing the bargain hunting going on as well, and you are seeing the bargain hunters getting in there and buying stocks up, randi. >> and the trader mthere with you, allen valdez. what about the first time they dropped below 4,000 for the first time ...